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Side-by-side financial comparison of Atlanta Braves Holdings, Inc. (BATRA) and Spok Holdings, Inc (SPOK). Click either name above to swap in a different company.
Atlanta Braves Holdings, Inc. is the larger business by last-quarter revenue ($61.3M vs $33.9M, roughly 1.8× Spok Holdings, Inc). Spok Holdings, Inc runs the higher net margin — 8.7% vs -67.6%, a 76.3% gap on every dollar of revenue. On growth, Atlanta Braves Holdings, Inc. posted the faster year-over-year revenue change (17.6% vs -0.1%). Over the past eight quarters, Spok Holdings, Inc's revenue compounded faster (-1.5% CAGR vs -52.5%).
Atlanta Braves Holdings, Inc. is a sports and entertainment holding company that owns and operates the Atlanta Braves MLB franchise. It also manages adjacent mixed-use real estate, live events, merchandise sales, and media operations, serving fans across the U.S. Southeast and global baseball audiences.
Spok Holdings, Inc. is a global provider of critical communication solutions primarily serving the healthcare industry. It offers unified clinical communication platforms, secure messaging tools, alerting systems, and on-call scheduling software that help care teams coordinate efficiently, cut response times, and boost patient safety across medical facilities.
BATRA vs SPOK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $61.3M | $33.9M |
| Net Profit | $-41.4M | $2.9M |
| Gross Margin | — | 76.7% |
| Operating Margin | -81.2% | 11.6% |
| Net Margin | -67.6% | 8.7% |
| Revenue YoY | 17.6% | -0.1% |
| Net Profit YoY | -116.7% | -19.6% |
| EPS (diluted) | $-0.64 | $0.13 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $61.3M | $33.9M | ||
| Q3 25 | $311.5M | $33.9M | ||
| Q2 25 | $312.4M | $35.7M | ||
| Q1 25 | $47.2M | $36.3M | ||
| Q4 24 | $52.1M | $33.9M | ||
| Q3 24 | $290.7M | $34.9M | ||
| Q2 24 | $282.9M | $34.0M | ||
| Q1 24 | — | $34.9M |
| Q4 25 | $-41.4M | $2.9M | ||
| Q3 25 | $30.0M | $3.2M | ||
| Q2 25 | $29.5M | $4.6M | ||
| Q1 25 | $-41.4M | $5.2M | ||
| Q4 24 | $-19.1M | $3.6M | ||
| Q3 24 | $10.0M | $3.7M | ||
| Q2 24 | $29.1M | $3.4M | ||
| Q1 24 | — | $4.2M |
| Q4 25 | — | 76.7% | ||
| Q3 25 | — | 78.3% | ||
| Q2 25 | — | 79.5% | ||
| Q1 25 | — | 80.1% | ||
| Q4 24 | — | 78.5% | ||
| Q3 24 | — | 79.5% | ||
| Q2 24 | — | 78.9% | ||
| Q1 24 | — | 79.5% |
| Q4 25 | -81.2% | 11.6% | ||
| Q3 25 | 12.5% | 12.9% | ||
| Q2 25 | 13.4% | 15.1% | ||
| Q1 25 | -94.2% | 16.6% | ||
| Q4 24 | -35.8% | 13.7% | ||
| Q3 24 | 2.2% | 14.2% | ||
| Q2 24 | 8.8% | 13.2% | ||
| Q1 24 | — | 14.0% |
| Q4 25 | -67.6% | 8.7% | ||
| Q3 25 | 9.6% | 9.5% | ||
| Q2 25 | 9.4% | 12.8% | ||
| Q1 25 | -87.7% | 14.3% | ||
| Q4 24 | -36.7% | 10.8% | ||
| Q3 24 | 3.4% | 10.5% | ||
| Q2 24 | 10.3% | 10.1% | ||
| Q1 24 | — | 12.1% |
| Q4 25 | $-0.64 | $0.13 | ||
| Q3 25 | $0.47 | $0.15 | ||
| Q2 25 | $0.46 | $0.22 | ||
| Q1 25 | $-0.66 | $0.25 | ||
| Q4 24 | $-0.29 | $0.17 | ||
| Q3 24 | $0.16 | $0.18 | ||
| Q2 24 | $0.46 | $0.17 | ||
| Q1 24 | — | $0.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $99.9M | $25.3M |
| Total DebtLower is stronger | $738.6M | — |
| Stockholders' EquityBook value | $526.0M | $146.4M |
| Total Assets | $1.6B | $206.1M |
| Debt / EquityLower = less leverage | 1.40× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $99.9M | $25.3M | ||
| Q3 25 | $82.2M | $21.4M | ||
| Q2 25 | $96.2M | $20.2M | ||
| Q1 25 | $244.7M | $19.9M | ||
| Q4 24 | $110.1M | $29.1M | ||
| Q3 24 | $100.9M | $27.8M | ||
| Q2 24 | $121.2M | $23.9M | ||
| Q1 24 | — | $23.3M |
| Q4 25 | $738.6M | — | ||
| Q3 25 | $759.9M | — | ||
| Q2 25 | $703.1M | — | ||
| Q1 25 | $699.5M | — | ||
| Q4 24 | $617.1M | — | ||
| Q3 24 | $640.1M | — | ||
| Q2 24 | $600.0M | — | ||
| Q1 24 | — | — |
| Q4 25 | $526.0M | $146.4M | ||
| Q3 25 | $560.3M | $148.7M | ||
| Q2 25 | $522.8M | $150.9M | ||
| Q1 25 | $486.1M | $151.7M | ||
| Q4 24 | $524.2M | $154.7M | ||
| Q3 24 | $530.4M | $156.3M | ||
| Q2 24 | $512.7M | $158.2M | ||
| Q1 24 | — | $160.2M |
| Q4 25 | $1.6B | $206.1M | ||
| Q3 25 | $1.7B | $209.7M | ||
| Q2 25 | $1.7B | $208.7M | ||
| Q1 25 | $1.7B | $204.5M | ||
| Q4 24 | $1.5B | $217.1M | ||
| Q3 24 | $1.6B | $216.8M | ||
| Q2 24 | $1.6B | $216.4M | ||
| Q1 24 | — | $215.0M |
| Q4 25 | 1.40× | — | ||
| Q3 25 | 1.36× | — | ||
| Q2 25 | 1.34× | — | ||
| Q1 25 | 1.44× | — | ||
| Q4 24 | 1.18× | — | ||
| Q3 24 | 1.21× | — | ||
| Q2 24 | 1.17× | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $26.4M | $11.5M |
| Free Cash FlowOCF − Capex | — | $10.1M |
| FCF MarginFCF / Revenue | — | 29.9% |
| Capex IntensityCapex / Revenue | 0.0% | 4.1% |
| Cash ConversionOCF / Net Profit | — | 3.93× |
| TTM Free Cash FlowTrailing 4 quarters | — | $25.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.4M | $11.5M | ||
| Q3 25 | $-88.8M | $8.1M | ||
| Q2 25 | $-8.1M | $7.0M | ||
| Q1 25 | $95.8M | $2.3M | ||
| Q4 24 | $28.9M | $8.4M | ||
| Q3 24 | $-69.0M | $11.1M | ||
| Q2 24 | $-34.3M | $7.4M | ||
| Q1 24 | — | $2.0M |
| Q4 25 | — | $10.1M | ||
| Q3 25 | — | $7.6M | ||
| Q2 25 | $-82.3M | $6.0M | ||
| Q1 25 | $76.3M | $1.5M | ||
| Q4 24 | $16.8M | $7.5M | ||
| Q3 24 | $-85.5M | $10.3M | ||
| Q2 24 | $-64.1M | $6.8M | ||
| Q1 24 | — | $1.1M |
| Q4 25 | — | 29.9% | ||
| Q3 25 | — | 22.4% | ||
| Q2 25 | -26.3% | 16.8% | ||
| Q1 25 | 161.5% | 4.2% | ||
| Q4 24 | 32.3% | 22.3% | ||
| Q3 24 | -29.4% | 29.4% | ||
| Q2 24 | -22.7% | 20.0% | ||
| Q1 24 | — | 3.2% |
| Q4 25 | 0.0% | 4.1% | ||
| Q3 25 | 0.0% | 1.6% | ||
| Q2 25 | 23.7% | 2.9% | ||
| Q1 25 | 41.3% | 2.1% | ||
| Q4 24 | 23.2% | 2.5% | ||
| Q3 24 | 5.7% | 2.4% | ||
| Q2 24 | 10.5% | 1.9% | ||
| Q1 24 | — | 2.5% |
| Q4 25 | — | 3.93× | ||
| Q3 25 | -2.96× | 2.54× | ||
| Q2 25 | -0.28× | 1.55× | ||
| Q1 25 | — | 0.43× | ||
| Q4 24 | — | 2.31× | ||
| Q3 24 | -6.89× | 3.03× | ||
| Q2 24 | -1.18× | 2.17× | ||
| Q1 24 | — | 0.47× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BATRA
| Baseball | $34.8M | 57% |
| Mixed Use Development Segment | $26.5M | 43% |
SPOK
| Paging | $16.8M | 50% |
| Software Operations | $16.0M | 47% |
| License | $1.2M | 4% |
